University of South Carolina

Entrepreneurship contest yields 'green' winner

A student from Cincinnati has won a Global Entrepreneurship Business Plan Competition at the University of South Carolina.

Marty Bauer, a first-year student in the International Master of Business Administration (IMBA) program of the Darla Moore School of Business, won $1,000 for his concept of commercializing patent-pending intellectual property developed by a biology professor at the university. CarbonForecast, the company he conceptualized as part of the competition, will enable other companies to quantify the carbon reduction effects of specific wetland improvements.

More than 20 USC students presented their entrepreneurial ideas and business plans before a panel of judges Thursday, Nov. 18. The competition, organized by the Moore School’s Faber Entrepreneurship Center, required students to create a business plan for a new enterprise that included concept, projected income and funding, target market, distribution channels and marketing.

Samantha August, a junior from Columbia majoring in international business and entrepreneurship, placed second, and doctoral chemistry students Atria Rungta of Mumbai, India, and Anand Viswanath of Chennai, India, who competed together, placed third in the competition. The students won $750 and $500, respectively.

August’s business design was for Neccessivend, a company targeting college students that makes available personal items such as toiletries, over-the-counter medications, laundry items and flash drives, in vending machines located in campus residence halls.

Rungta and Viswanath’s business was Intelligent Nanomaterials, a company that would design and manufacture customized nanomaterials using patented technology for small and mid-sized North American companies specializing in high-end technological products in electronic and optical industries.

Other finalists included Lei Wang, a doctoral student in chemistry from Shanghai, China; Beibei Zhou, a senior accounting major from Hangshou, China; Emily Johnson, a sophomore biology major from Chapin; Bryan Zingmark, a junior business major from Columbia; Joseph Fox, a senior business major from Charleston; Cameron Williams, a senior business major from Columbia; and Lyle Sweet, a senior business major from Harrisonburg, Va.

The competition was part of the Moore School’s celebration of Global Entrepreneurship Week, an annual worldwide observance to unleash new ideas. The competition is among 40,000 events taking place in 100 countries.

By Office of Media Relations

Posted: 12/03/10 @ 11:30 AM | Updated: 12/10/10 @ 1:38 PM | Permalink